What's your plan "B"?

What's your plan "B"?  During these trying economic times, it is important to have savings, and other sources of income in the event of losing one's job.  In the past it was recommended by many finacial advisors to have 6 months of reserves ready in case of emergency.  I think the new rule for the "new economy" is perhaps 1-2 years income during times of crisis.  What are you doing America?  How are you preparing?  Some options are real estate, stock options, businesses.  Multiple streams of income, so that if one stream dries up you can still go fishing in another.  Keep building up your streams everyone, so that they can be mighty rivers!  God bless, and prepare for the worst, so the worst doesn't happen.

Negativity Kills

There is a lot of bad news out there, and I am not saying you should ignore it. However I think you should always find the positive.  Each day is a gift.  My spirit is renewed, my health is improving, each day is brand new and full of promise.  Cease the day, and make the best of it.  Yes there is terrible flooding, yes the economy is shaky, yes the government is getting to big.  But remeber the promise of a new day, today is the day to be your best, do your best, and help the rest.  God bless.

New Business venture

I am very excited.  I am entering into a new chapter in my life.  I will be acquiring a new business soon.  The transfer should take place in less than a month.  It is a Curves franchise.  I like the business model, it is quite a niche business.  The current owner has had it for 8 years, and so I have been studying her business for a few months now.  I think I can improve the cash flow.  Members are offering me their valuable opionions on how to improve their experience.  It's going to be great, and I will add yet another stream of income.  I am getting closer to reaching my goal every day, retiring by age 50, living off of a properous passive income.

How much is your "word" worth?

I have a problematic tenant.  She has been this way since I signed the lease with her last year.  I have taken her to court on two ocassions, and now she is finally leaving.  She was a trouble maker, late paying rent, but worst of all her "word" was worthless.  I would give her more than enough time to pay the rent, and I would always ask her, when will you have it?  Every time she would answer with an excuse, or flat out lie to me, by saying that it will be there tomorrow. 
I think I have learned several lessons from this tenant, one is to be fair but be firm with your tenants.  Say what you mean, and mean what you say.  Second lesson is to not give anyone the benefit of the doubt too many times, because they will abuse your good nature.  The third and final lesson is to diversify my real estate.  That is to say instead of buying and holding, I will use different strategies in the future such as flipping, lease option, and "wrap contracts," which is something John Burley does a lot of.
Remember, how good is your word?  If you can not keep up the little promises, how can you keep the big ones?